Wells Fargo & Company Increases Ally Financial (NYSE:ALLY) Price Target to $37.00

Ally Financial (NYSE:ALLY) had its price target hoisted by Wells Fargo & Company from $33.00 to $37.00 in a research note published on Thursday, Benzinga reports. They currently have an underweight rating on the financial services provider’s stock.

Several other analysts also recently weighed in on ALLY. JPMorgan Chase & Co. raised shares of Ally Financial from an underweight rating to a neutral rating and lifted their price target for the company from $39.00 to $45.00 in a research note on Monday, July 8th. StockNews.com upgraded Ally Financial from a sell rating to a hold rating in a report on Friday, April 26th. Deutsche Bank Aktiengesellschaft cut their price target on Ally Financial from $51.00 to $50.00 and set a buy rating on the stock in a research note on Monday, July 1st. BMO Capital Markets increased their target price on shares of Ally Financial from $36.00 to $37.00 and gave the stock a market perform rating in a report on Friday, April 19th. Finally, Evercore ISI upped their price target on shares of Ally Financial from $43.00 to $45.00 and gave the stock an in-line rating in a research report on Tuesday, June 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Hold and a consensus price target of $42.78.

Ally Financial Stock Performance

ALLY stock opened at $41.86 on Thursday. Ally Financial has a twelve month low of $22.54 and a twelve month high of $44.50. The firm has a market cap of $12.72 billion, a price-to-earnings ratio of 17.09, a PEG ratio of 0.49 and a beta of 1.41. The business’s fifty day simple moving average is $40.00 and its two-hundred day simple moving average is $38.23. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 1.39.

Ally Financial (NYSE:ALLY) last posted its quarterly earnings results on Wednesday, July 17th. The financial services provider reported $0.97 EPS for the quarter, topping the consensus estimate of $0.64 by $0.33. The company had revenue of $2 billion for the quarter, compared to the consensus estimate of $2.03 billion. Ally Financial had a net margin of 10.26% and a return on equity of 8.37%. The firm’s revenue was down 3.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.96 EPS. Analysts predict that Ally Financial will post 3.26 earnings per share for the current year.

Ally Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Thursday, August 1st will be issued a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 2.87%. The ex-dividend date is Wednesday, July 31st. Ally Financial’s dividend payout ratio is presently 48.98%.

Hedge Funds Weigh In On Ally Financial

Hedge funds have recently modified their holdings of the stock. Boston Partners purchased a new stake in Ally Financial during the 1st quarter worth approximately $152,079,000. Scout Investments Inc. purchased a new stake in shares of Ally Financial during the fourth quarter valued at $63,080,000. Norges Bank acquired a new position in shares of Ally Financial in the 4th quarter valued at $62,869,000. Jennison Associates LLC purchased a new position in Ally Financial in the 1st quarter worth $52,252,000. Finally, Delta Global Management LP raised its stake in Ally Financial by 3,262.3% in the 1st quarter. Delta Global Management LP now owns 1,035,994 shares of the financial services provider’s stock worth $42,051,000 after acquiring an additional 1,005,182 shares during the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

Ally Financial Company Profile

Ally Financial Inc, a digital financial-services company, provides various digital financial products and services in the United States, Canada, and Bermuda. The company operates through Automotive Finance Operations, Insurance Operations, Mortgage Finance Operations, and Corporate Finance Operations segments.